As new address growth on Uniswap reached its highest level since September 2020, Santiment highlighted two conditions for the move in UNI’s rebounding price to continue.
According to Santiment’s October 29 post, the number of daily active addresses rose to 14.591, reaching a one-year high. The same data showed 13.137 new UNI addresses, the largest spike in network growth recorded since September 2020.
At the time of the post, UNI was trading at around $7,25 and showing an upward reversal. The analysis focuses on whether this increase in address activity will continue to support the price.
What’s behind the activity on Uniswap?
Santiment says the activity spike followed a series of innovations in the ecosystem. Aggregator Hooks allow liquidity from external sources to be routed through Uniswap v4, while VolatilePair Hooks expanded dynamic pricing capabilities.
October 29 is also the date given for Unichain’s OP Enterprise update. These developments stand out as technical innovations accompanying the increase in the platform’s address data.
Two conditions for the $8 UNI scenario
According to Santiment, holding above $7 and keeping the number of active addresses high are important for the rally to continue. The analysis identifies $7,50 as the first confirmation level for strengthening price action; if these conditions are met, the $8 scenario remains on the table.
Conversely, if the price falls below $7 and activity also declines significantly, this could indicate that the spike in addresses reflects temporary activity rather than a lasting increase in usage. Santiment therefore evaluates price levels alongside the persistence of network activity.
Not investment advice.